July 2022

Finra arbitration orders D.E. Shaw to pay former manager $52 million in defamation suit

Taken From: Source By: Jeff Benjamin A Finra arbitration board has ordered hedge fund giant D.E. Shaw & Co. to pay a former star fund manager $52 million, which represents one of the largest defamation fines in at least a decade. The fine is a fraction of the $600 million sought by Daniel Michalow, who was …

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Finra Raps Ex-Morgan Stanley Broker Who Said Deceased Client Had Authorized Distributions

Taken from: Source By: AdvisorHub Staff   The Financial Industry Regulatory Authority showed little sympathy for a 36-year industry veteran in Michigan who it alleged falsely identified a deceased customer as having authorized disbursements from a trust. The regulator issued a $7,500 fine and two-month suspension against Paul C. DeMark, a former Morgan Stanley broker who …

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